Feb 23, 2023
People over the age of 50 are not just taking care of themselves. They're taking care of their families. They're taking care of their communities. They want to be engaged. They want to give back. So there's a ripple effect in there which cuts across all generations.
Businesses need to have a longevity plan; if you're not thinking about the changing nature of your consumer base, the changing nature of your workforce and figuring out ways to leverage diversity of age as part of a strategy for economic growth, sustainability and viability - you really are at risk of becoming quite irrelevant moving forward.
Companies should focus on creating strategies for long-term success and relevance. This includes understanding the shifting demographics in the workforce, such as millennials and Gen Z, who will soon start turning 50. Companies should also be aware of the generational diversity in the workforce, as many are managing five generations at once.
We are so excited to have Dr Jean Accius on this episode of This Is Getting Old: Moving Towards an Age-Friendly World! Dr Accius will share his valuable expertise on how the aging population is having a positive impact on the global economy.
From the rise in life expectancies to the increase in the number of older workers, we are eager to hear about the opportunities available to this growing segment of the population and the need for age-friendly programs and policies.
Key points covered in this episode:
✔️ Dr. Jean Accius: Transforming Lives for Aging Populations Worldwide
Dr Jean Accius is a passionate, globally-recognized visionary who endeavors to improve life for aging populations by closing the opportunity gap, developing innovative and actionable solutions, and positioning AARP as a global thought leader.
He is lauded for his transformational leadership, business acumen and systems change approach, and is an acclaimed author and speaker who has appeared in various media outlets and facilitated sessions at the World Economic Forum in Davos.
His team's signature program, Growing with Age, was recently recognized by Fast Company as a 2021 Game-Changing Idea. Dr. Accius also holds numerous board and advisory positions and is a member of the National Association of Corporate Directors.
✔️ Uncovering the Economic Impact of the Over-50s: A Look into the Global Longevity Economy Outlook
The Global Longevity Economy Outlook—The Economic Contribution of People Age 50 and Older Report is an in-depth analysis of the economic impact of people over the age of 50.
It looks at how much this population contributes to the economy in terms of consumption, entrepreneurship, and investments, as well as the impact of policy changes, labor market transformations, and health and well-being.
The report also examines the impact of this population on economic inequality, and how global aging trends could influence economic growth and stability.
Ultimately, the report focuses on the need to create a global environment that is both age and health-friendly to ensure the longevity of the population and the stability of the global economy.
✔️ Exploring the Benefits of the AARP's Longevity Economy – Why It Matters
Every day, the global population is aging rapidly, with 10,000 people in the U.S. alone turning 65 each day. In 2021, 25% of the world's population was 50 years and older, and this number is expected to rise to one in three by 2050. This aging trend offers an opportunity to recognize the contributions, insights, wisdom, and experience of older adults, as well as their economic contributions to GDP. Rather than seeing older adults as a liability, they should be seen as an asset that is not in decline.
✔️ Redefining Aging: How We're Failing Our Most Valuable Resource
Companies should focus on creating strategies for long-term success and relevance. This includes understanding the shifting demographics in the workforce, such as millennials and Gen Z, who will soon start turning 50. Companies should also be aware of the generational diversity in the workforce, as many are managing five generations at once. To ensure longevity, companies should make sure their strategies are tailored to employees of different ages and backgrounds and strive to create an inclusive atmosphere.
Dr Jean Accius emphasized that in 2020, the economic contributions, both direct and indirect, of people over the age of 50 around the world was $45 trillion—by 2050 it'll be over 118 trillion in economic activity.
More notably, this has a ripple effect because people over the age of 50 are not just taking care of themselves—they're taking care of their families and their communities. They want to be engaged, they want to give back.
So for businesses, if you don't have a longevity plan, if you're not thinking about the changing nature of your consumer base, the changing nature of your workforce and figuring out ways in which you can leverage that diversity of age as part of a strategy for economic growth, sustainability and viability, then you really are at risk of becoming quite irrelevant moving forward.
✔️ Unlock the Power of the 50+: Leveraging the Global Senior Population to Drive Economic Growth, Innovation, and Value Creation
We need to get beyond cutting confinements and trying to put older adults in a box because we're seeing that older adults there, they have been there, they have done that. They tend to be extremely resilient and extremely innovative.
A global survey across 12 countries in a sample of 12,000 older workers aged 40 and above found 94% indicated that they had little to no difficulty managing technology during the pandemic.
Looking at the opportunity around technology, the surveys are showing that older adults are nimble, they're flexible.
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How To Connect With Jean Accius, PhD:
If you are looking to connect with Dr. Jean Accius, PhD, there are multiple ways you can do so. On Twitter, you can follow his handle @JeanAccius as well as @AARPIntl, @AARP and @WEF. On Instagram, you can follow him at @JeanAccius.
Finally, on LinkedIn, you can check out his profile at https://www.linkedin.com/in/accius4/.
Connecting with Dr. Jean Accius is easy and will provide a great opportunity to learn from this amazing expert in his field!
For more information about The Global Longevity Economy Outlook | The Economic Contribution of People Age 50 and Older, you can check out the full report on the AARP Global Longevity Economy Outlook.
If you have questions or comments or need help, please feel free to drop a one-minute audio or video clip and email it to me at melissabphd@gmail.com, and I will get back to you by recording an answer to your question.
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About Melissa Batchelor, PhD, RN, FNP, FGSA, FAAN:
I earned my Bachelor of Science in Nursing ('96) and Master of Science in Nursing ('00) as a Family Nurse Practitioner (FNP) from the University of North Carolina Wilmington (UNCW) School of Nursing (SON). I genuinely enjoy working with the complex medical needs of older adults. I worked full-time for five years as FNP in geriatric primary care across many long-term care settings (skilled nursing homes, assisted living, home, and office visits), then transitioned into academic nursing in 2005, joining the faculty at UNCW SON as a lecturer. I obtained my PhD in Nursing and a post-master's Certificate in Nursing Education from the Medical University of South Carolina College of Nursing ('11). I then joined the faculty at Duke University School of Nursing as an Assistant Professor. My family moved to northern Virginia in 2015 which led to me joining the George Washington University (GW) School of Nursing faculty in 2018 as a (tenured) Associate Professor. I am also the Director of the GW Center for Aging, Health, and Humanities. Please find out more about her work at https://melissabphd.com/.